If it comes to a vote you have my proxy and I hope you win but until then I will keep buying and selling covered calls on weeklies. Sold 10 covered calls @ 605 last week and bought back at 596+ yesterday. I may have lost the 10 calls today but if I did not next week is looking really good. This paid for my vacation here at South Padre with some to spare. Not very daring but is the only way I can trade with limited time and it has been very good for several months now. This said I will be on your team to turn the bulls loose and get rid of weeklies.

Well I didn’t trade them for 2 weeks now and they still pinned. So instead I had an opportunity loss. I know this may be shocking but we aren’t the only people trading weeklies…someone needs to tell the rest of the free world to stop too…and that ain’t happening. I have made nice money on them but would gladly forego it all very happily if weeklies would disappear.. but folks like you and me aren’t going to matter in the scheme of things. The pinning is ridiculous.

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[12:38:59 PM] JD: And there it is, the sonsofbitches…
[12:39:17 PM] JD: 604.xx
[12:39:56 PM] JD: EOSoB’s
[12:41:32 PM] BAFBM: you were right after all!!!
[12:41:45 PM] BAFBM: double head fake!
[12:41:47 PM] JD: But I don’t want to be right.
[12:41:56 PM] BAFBM: yep, but see the EOs are Evil!
[12:42:21 PM] JD: So long as those babies close at 3:59:59 under 605, no payoff.
[12:42:30 PM] BAFBM: yep
[12:43:08 PM] JD: 604.99 @ 3:59:59

[1:00:27 PM] BAFBM: you were off by a whole two pennies!
[1:00:29 PM] BAFBM: you are slipping!

Takeaways:

Evil Overlords are evil
Captain obvious is obvious.

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We filed for over 200 patents for all the inventions in iPhone and we intend to protect them. — Steve Jobs, 2007

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Those of you playing the ponies with weekly options don’t find monthlies worthy? The weeklies are putting handcuffs on Apple’s ability to rise on days like this. For those who own monthlies, LEAPs and common, these weeklies are limiting Apple IMO.